Vanguard Group Inc. Has $550.64 Million Stock Position in Commercial Metals Company (NYSE:CMC)

Vanguard Group Inc. lowered its stake in Commercial Metals Company (NYSE:CMC) by 2.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 11,967,846 shares of the basic materials company’s stock after selling 280,647 shares during the period. Vanguard Group Inc. owned approximately 10.59% of Commercial Metals worth $550,641,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Isthmus Partners LLC lifted its holdings in shares of Commercial Metals by 3.2% during the 1st quarter. Isthmus Partners LLC now owns 7,381 shares of the basic materials company’s stock worth $340,000 after acquiring an additional 226 shares during the period. Choreo LLC lifted its stake in Commercial Metals by 2.1% in the 1st quarter. Choreo LLC now owns 11,015 shares of the basic materials company’s stock valued at $509,000 after purchasing an additional 228 shares during the last quarter. Mariner LLC lifted its stake in Commercial Metals by 0.9% in the 4th quarter. Mariner LLC now owns 24,735 shares of the basic materials company’s stock valued at $1,227,000 after purchasing an additional 232 shares during the last quarter. UMB Bank n.a. lifted its stake in Commercial Metals by 51.9% in the 1st quarter. UMB Bank n.a. now owns 784 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 268 shares during the last quarter. Finally, Fifth Third Bancorp lifted its stake in Commercial Metals by 21.2% in the 1st quarter. Fifth Third Bancorp now owns 1,595 shares of the basic materials company’s stock valued at $73,000 after purchasing an additional 279 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Commercial Metals Trading Down 2.0%

CMC opened at $57.17 on Friday. Commercial Metals Company has a twelve month low of $37.92 and a twelve month high of $64.53. The company has a quick ratio of 2.00, a current ratio of 2.86 and a debt-to-equity ratio of 0.32. The company has a fifty day moving average of $51.53 and a 200-day moving average of $48.33. The stock has a market cap of $6.40 billion, a PE ratio of 184.43, a price-to-earnings-growth ratio of 2.69 and a beta of 1.28.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings data on Monday, June 23rd. The basic materials company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.11). The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.04 billion. Commercial Metals had a return on equity of 7.45% and a net margin of 0.48%. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.02 earnings per share. On average, sell-side analysts predict that Commercial Metals Company will post 3.09 EPS for the current year.

Commercial Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Monday, June 30th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Monday, June 30th. Commercial Metals’s dividend payout ratio (DPR) is presently 232.26%.

Analysts Set New Price Targets

Several equities analysts recently commented on CMC shares. Jefferies Financial Group reissued a “buy” rating on shares of Commercial Metals in a research note on Friday, June 20th. BMO Capital Markets reissued a “market perform” rating and issued a $55.00 price objective (down previously from $57.00) on shares of Commercial Metals in a research note on Tuesday, June 24th. Wells Fargo & Company started coverage on shares of Commercial Metals in a research note on Wednesday. They issued an “overweight” rating and a $61.00 price objective for the company. Morgan Stanley set a $57.50 price target on shares of Commercial Metals in a research report on Wednesday, June 25th. Finally, UBS Group restated a “neutral” rating and issued a $56.00 price target (up from $48.00) on shares of Commercial Metals in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $58.81.

Commercial Metals Profile

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. It operates through two segments, North America and Europe. The company processes and sells ferrous and nonferrous scrap metals to steel mills and foundries, aluminum sheet and ingot manufacturers, brass and bronze ingot makers, copper refineries and mills, secondary lead smelters, specialty steel mills, high temperature alloy manufacturers, and other consumers.